Page:United States Statutes at Large Volume 62 Part 3.djvu/1391

 Salaries and ex- penses. Special bank ac- count. Administration of funds. Records; financial reports. Assistance to Foun- dation. Assistance by the Republic. Funds withheld for purchases in U.S. INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [62 STAT. 4. The Foundation shall pay the salaries and other expenses payable directly to the members of the Field Staff in an amount not to exceed Seventy Thousand Dollars ($70,000), U.S. currency and shall in addi- tion pay into a special bank account in the bank of the Republic's choice, to be entitled "Cooperative Education Program-Inter- American Educational Foundation, Inc.", from time to time on the basis of need as determined by the Special Representative of the Foundation and the Secretaria de Estado en el Despacho de Educaci6n Publica, the sum or sums which will aggregate Thirty Thousand Dollars ($30,000), U.S. currency. The Republic shall, in addition to its regular budget for education, pay into the said special bank account from time to time on the basis of need, as determined by the Secretarfa de Estado en el Despacho de Educaci6n Publica and the Special Representative of the Foundation, the sum or sums which will aggre- gate Fifty Thousand Quetzaltes (Q50,000), Guatemalan currency. Within sixty days after the execution of this Agreement the Founda- tion shall pay into the said special bank account the sum of Ten Thousand Dollars ($10,000), U.S. currency, and the Republic shall pay into the said special bank account Seventeen Thousand Quetzales (Q17,000), Guatemalan currency, as the first installment from each Government for the said cooperative educational program. The funds in the said special bank account shall be administered by the Founda- tion and devoted exclusively to the said cooperative educational pro- gram as provided herein, and all Contracts necessary to carry out the terms of the Projects mutually agreed to by the representatives of the two Governments shall be in the name of the Foundation. If the Republic desires and so notifies the Foundation in writing, checks for the expenditure of funds in the said special bank account shall be countersigned by a representative of the Republic. The books and records of the Foundation relating to the said cooperative educational program shall be open at all times for inspection by representatives of the Republic, and the Foundation shall render financial reports to the Republic at such times as may be agreed upon between the Secre- tario de Estado en el Despacho de Educaci6n Pdblica and the Special Representative of the Foundation. 5. The Foundation shall use its best efforts to obtain such assistance and cooperation of the Coordinator of Inter-American Affairs and other agencies, both public and private, in the United States, as may be appropriate for the execution of the said cooperative educa- tional program. The Republic shall make available office space, office equipment, furnishings and such other of its facilities, material, equipment and supplies as it may conveniently provide for the said program, and shall lend the general assistance thereto of the other Departments of the Republic. 6. In view of the fact that many purchases of materials and supplies must necessarily be made in the United States of America the Secre- tario de Estado en el Despacho de Educaci6n Pdblica and the Special Representative of the Foundation may agree to withhold from the

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